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. >>> inflation tops the list for china's central bank chief. he's put off retirement to help oversee the economy. hello i'm yuko fukushima and this is "asia biz forecast." for many this past week the central focus was the central bank. the bank of japan welcomed a new chief and opened the door to a new era of monetary policy. haruhiko kuroda was sworn in wednesday as the new boj governor. he took over a day after masaaki shirakawa stepped down, kuroda bringing an end to more than a decade of inflation. prime minister shin bow abe it requires closer coordination between the government and the central bank as well as a boj chief willing to undertake bold monetary easing. by all accounts, kuroda is his man. >> translator: the japanese economy has been struggling with deflation for nearly 15 years. the greatest mission of the central bank is to end deflation and achieve the inflation target of 2% as soon as possible. >> cue row do da has said he believes the boj can achieve the target within two years and says he'll use every tool at his disposal to make that happen. >> translator: the bank of japan
american companies are doing well and the economy is starting to look up, but there's no denying this it rally is in large part fuelled by the fed, which has kept interest rates so low you can't make money anyone other than than the housing and stock markets. to help prop up the down economy, the fed has been pumping money into the system every month in exchange for bonds. that increases the money supply. it drives down interest rates. for awhile now shs the fed's funds rate and other loans that americans use to raise money that be at near zero. the hope is that banks and other lenders will use this cash to lend to consumers and businesses. borrowers will purchase homes and cars or start new businesses and get the economy churning again. it's been working. home prices are rising again due to low mortgage rates. more americans are finding jobs again. it won't stop printing until the unemployment rate dips below 6.5% which means the fed's will be at it until 2015. the flip side to the fed's action is that investors in bonds and interest baring accounts have suffered. it's a low-int
and around the world. i'm fareed zakaria. a great show for you today. first up, the question for the economy. should we save or should we spend? what will get the economy moving faster? i'll talk to the chief proponent of spending. nobel prize winning economist paul krugman. then, the race for space. is america losing? china is building its own space station and the u.s. has to rely on russia to send our astronauts up to the stars. what is going on? >>> and the exploding middle class. in more than seven years it will triple in size to almost 2 billion people. it will change the world. we'll talk about how. >>> but, first, here's my take. those of you who follow the show reg lerly know i have long argued that cutting government spending in the midst of a weak recovery is not a path towards growth. but i have also argued that america does have a debt and deficit problem and we need to take it very seriously. the fact is, the vast majority of our debt problems relate to the costs of health care in america. now that the debate over obama care is over, we should start thinking about how to get am
to jump-start the economy, not just the stock market. let's go to nicole petallides at new york stock exchange. david: let's start, nicole. we start with fedex it was an extraordinary run-up. it was in the $100 range. it pulls back quite a bit. this is the biggest pullback since 2011? >> certainly is, the biggest pull back since 2011. concerns globally and also going to cut down what they're shipping over it asia. lauren: how is oracle looking ahead of their earnings release, nicole? >> we're watching oracle closely in the tax realm. we'll see whether or not they have earnings. [closing bell rings] david: best buy up another 5%. that stock can not be denied. as you her the bells are ringing on wall street. looks like the indexes are going to keep essentially where they were before and after ben bernanke began to talk. looked like they were sliding a bit. they stopped that slide. trading this the 50 to 60-point range on the dow. the s&p is doing better percentagewise. nasdaq is doing well. russell 2000, small and mid-sized caps doing well. there are interesting company stories and sect
economist. we're talking extraordinary weakness here, especially in the two most important economies, germany and france. >> yes. what we saw towards the beginning of the year, what we were hoping was we would see in the u.s. in the second quarter and maybe a third number. what these number res sharing, while we're seeing the rate of contraction to ease in the third quarter, around 4.6% declines. what we saw at the end of the quarter, regathering momentum and that puts the usa in a weak position heading into the second quarter. >> i was going to ask, too, the there's any way, these are sentiment surveys. these are not going on out and measuring production. what it does, it oles the companies themselves, asks them about data. pretty reliable whether it's the u.s. version of these or the global ones with tracking equity prices. and the point here is, this is the first reading of sentiment in march. yet it doesn't seem as though this was necessarily nud by the latest out of cypress. this would have all fallen before this happened. >> yeah. it's asking for hard information whether it is
, the question for the american economy. should we save or spend? what will get the economy moving faster. i will talk to the chief pro-economist of spending paul krugman and then the race for space, is america losing? china is building it own space station and the u.s. has to reeli on russia to send our astronauts to the stars. what's going on? and the exploding issue, middle class. in seven years it will more than triple in size to almost 2 billion people. it will change the world. we'll talk about how. but first here's my take. those of you who followed the show regularly know that i have long argued that cutting government spending if the midst of a weak recovery is not a path toward growth. i have also argued that america has a debt and deficit problem and we need to take it very seriously. the fact is that the vast majority of our problem is related to the cost of health care in america. now the debate over obama care is over, we should start to think seriously of how to get america's health care costs under control. as it turns out a book and magazine story provide ways to think of th
economy. its banks are not highly connected with the rest of the international financial system. there is no risk of contagion here. >> adam, actually, of all the ideas you laid out, which do you think is the least bad of all those solutions? is it going ahead and letting the banks fail? >> that would be my preferred route. failure implies that the banks can't pay their depositors. they are restructuring. they will be very orderly. basically, the banks would be closed for two days. what would come out is when they reopen, the depositors would be the large depositors because the small depositors would be fully protected. the large depositors would be the owners of a bank and they would have deposits of somewhere between 50 1k3 60 or 70% of their money and the rest of the shares in the new bank. the banks would be solvent. the banks could be highly capitalized and they would then have access to the ecb for refinancing to provide any liquidity. >> and the fallout from that would be that the russians -- >> and basically -- >> the fallout for that is that the russians are the ones wh
to give the state all of our resources which would be at least 3 billion euros to help the economy. maybe a little bit of help from heaven. back over to you. >> the archbishop, this is something people should go look up this piece of the story. this is a fascinating piece. he's seen as this spiritual leader there who has been quite vocal. he's been out there talking saying let's get out of the euro and go back to the pound. do we have carolyn? can i briefly ask what it's like on the ground there? we understand that it may be several more days, not just thursday, before people can access their money in cyprus. >> absolutely. initially we know that banks were going to be closed up until tomorrow but at this point there's a lot of speculation that banks will be closed up until tuesday because monday is another bank holiday and at this point it's very, very uncertain that we'll get a viable plan b to get the bailout deal in place at this point it doesn't look like we'll get it by tomorrow. at this point we are expecting that banks are going to be closed for a little bit longer. of course that
and the new fed forecast for the economy. and the stocks we're focused on this morning, blackberry getting an upgrade at morgan stanley and a note titled why it won't go down and it gets into the best buy bull camp, and calling it the best near-term idea in the sector. let's get straight to fedex. the package delivery company says it earned $1.23 a share in the fiscal third quarter and below wall street forecasts. fedex says the customers were choosing slower transit services. this does happen, of course, after a massive run in the transports. >> one of the things that amazes me about fedex is they keep missing and they get loved a few days later. missed and gets loved. it's still regarded as being a profit machine. they have this restructuring that people like very much. people feel it's only a matter of time before someone steps up to the more expensive freight. to me, my charitable trust owns ups. ups has the expectations lower. scott davis always says negative things. >> melissa hit the nail on the head. the stock had a big run and the two guys were going head to head over what was in
than three hours from the federal reserve notes and whether or not it continues stimulating the economy at the current levels, keeps propping things up. why don't you just pick up from where we left off because talking about washington related to the bigger picture scenario not assist early today but the role the federal reserve plays in all of this as long as interest rates stay as low as they are, what do you think? >> the fed plays a big role keeping interest rates low. i heard on the fiscal side, you're right, maybe outside of the beltway the washington fatigue, but returned to the fed, everyday to indicate the fed keeps the pedal to the metal, 85 billion per month, there'll be some talk about scaling it back later this year. the thing to watch is the fed forecast. all the members put in the economic forecast for the next three years. my guess is it'll be a little bit more promising for social and employment rate above 6.5% until 2015 and that is the threshold, they will not move interest rates up before your employment rate gets to that level, that is still at least two years from
insolvent. the banks in cyprus are huge, eight times the size of the economy. consider that here in the united states. our banking system is roughly one-time the size of our economy. what we're waiting to see next are they going to get this through parliament and get it done? it is so controversial they're trying to find out different ways to make it less controversial. impose the tax on larger shareholders to a much greater degree. it was originally 9.9% and you go to 12%. if you didn't want to tax the small guys at all you'd have to go to 15% or 16%. this is the scene when the president walked into the palace headquarters. there were people there with no written on their hand and this says merkel stole our money. keep in mind, european union will still give them 10 billion euros and they were trying to come up to reduce the original size from 17 billion euros. the other thing to keep in mind, by taxing depositors they're taxing a lot of foreigners and a lot of russians who had kept their money. the thing is will the rest of europe, will small depositors across the rest of europ
and howard ward. >> economy is getting better, capital chase returns and stocks continue to trend higher although there's profit taking here and there. >> okay. we'll take that to the bank. the key question about europe. it's all about credit quality. >> who do we have to worry about? >> spanish, italian and greece. >> you're very worried. >> people have to start doing their work. europe never did the work of fixing bank solvency in the first place. >> gentlemen, thank you for being here. >> happy monday. >> that does it for us today. make sure you join us tomorrow. right now it's time for "squawk on the street." ♪ ♪ ♪ ♪ >>> welcome to the last week of the first quarter. good morning. welcome to "squawk on the street." i'm carl quintanilla with melissa lee and jim kraker. futures reflecting the relief of the cyprus deal. a similar picture in europe where the italian tenure is now below where it was before those italian elections and a mixed picture in asia this morning. the nikkei up about 1.5%. the road map begin with the eurozone that did not collapse over the weekend so natura
. let's take a pause to digest all of what's going on. >> there are two economies here. kb homes, lennar, sherwin williams, whirlpool. there is the economy defined by fedex, by caterpillar and this morning by yorele cal. i was on the call last night. the cisco downgrade today. this dichotomy is allowing i think bernanke to not have to taper off. at the same time it calls into question how weak is that international market. seems very weak. >> did we get largely what we wanted from the fed yesterday? there were no big surprises within that. >> no. i think that was the point to not have any big surprises. i think there was a poignant moment yesterday that i think wasn't talked about enough where someone asked imputedly, i felt, because ben bernanke deserves better -- do you know anybody that's unemployed? do you note price of a gallon of milk? he came back, yes, i have a relative on unemployment. he's going to get unemployment down then we'll talk about tapering. until then we are playing a parlor game with the fed. i believe bernanke when he says these things. >> there's no reason to beli
to us that -- quote -- "the need to transform the world's energy economy while addressing global climate change is not only a religious and moral imperative, it is a strategy for security and survival. the united states conference of catholic bishops says that -- and i quote -- "at its core, global climate change is not about economic theory or political platforms, nor about partisan advantage or interest group pressures. it is about the future of god's creation and one human family." the bishops asked congress to consider seven principles in shaping responsible climate change policies. one, addressing global climate change means protecting the common good. two, climate change will hit the most vulnerable communities the hardest. three, we must seek solutions that enhance rather than diminish the economic standing of the poor. four, new resources must be made available to poor communities to adapt to the effects of a changing climate. five, we must protect vulnerable people from the negative human health effects of climate change. six, local affected communities should have a voi
ready for the next hour. bill, good to see you. have a great weekend. by the way, does a bad economy bring euphoria to the walking dead? >> i think it does. >> we'll talk to the creator later. >> that would be her zombie walk there, as she moves on to the next hour of the "closing bell". >> do earnings matter or is it still about the fed? >> it seems like earnings mattered yesterday a little bit. i don't think cyprus was the reason we sold out. are they going to matter going forward? i don't think so. not for the next three months. the fed is still the major factor in this. cyprus isn't a factor yet. earnings aren't a factor. the fed has definitely cleared the -- >> it's about liquidity in this market. >> absolutely. i would like to see more liquidity as far as volume goes. you get an 85-point rally off yesterday's sell-off, small volume, not much of a factor. but cyprus will lead the day monday morning in a short week. >> all right. thank you, matt, very much. all right, we've got a market coming back a little bit. needed to be up 92 to be positive for the week. we're ten points awa
of the economy that are not that strong and i don't know what the sequester will bring in the month of april. >> look, the data say things are better, and i think the fed will be under a lot of pressure because interest rates are headed higher. >> at some point the fed will have to acknowledge that -- and they have -- to your point, they changed the language a little bit. it's a moderate recovery and it's a strengthening recovery. words like that. >> right. >> at some point they're going to have to acknowledge what we all seem to know which is -- they're not great, but things are getting better. now will inflation pick up and that, of course, is the fed's number one mandate. will inflation pick up until we see jobs pick up because wage inflation comes with excess demand from workers. i don't know. that's the big trillion dollar question mark. >> commodity inflation whether it be corn or copper and the strong dollar will contain inflation that's going up a great deal. housing is stabilizing and not really in the numbers. i want to take issue with some of what you said. i think we all think th
's on -- you know, it's 0.2% of their economy and, you know, we're worried about whether there's any ripple all the way over to us. >> it may want be an instant market reaction, though. it may be something that's more of a concern about whether there would be other countries that step out of the eu. >> don't you think the markets could anticipate whether there would be further trouble or not? >> i don't know. i think this is -- >> we would be seeing it if it was really -- if they he can't sell off in europe, we shouldn't be looking at it at all for our markets here. >> no. michelle, what's that? >> i know you're over there, but you don't care. >> the one ripple effect i can think of is -- the one ripple effect i can think of is that if when they wind down this bank, there's some wealthy russians or wealthy companies that had money in there that they would lose a substantial portion of, perhaps 50% of the uninsured deposits if they do a wind down. if they have a margin call, you know what i'm saying? some kind of ripple effect maybe related to a russian company or a russian individual. but when
is a big concern. china is a big concern. they said china's economy is showing symptoms that sparked the crisis in 2008, the warning and saying they risk financial crisis. obviously, concerns about china. i'm going to stick to the cypress theme and put it together. the vix, fear index popped. you see the 1275 right now, up 17%. at one point, up 13%. right now, let's look at the financials because they certainly reacted. in some cases, dramatically, and the idea of them taxing deposits there. citigroup down 2% and banks abroad hit harder. back to you. >> a full and complete report, thank you, nicole. >> for the bailout proposal, is the tax on bank deposits, and that is sparking outrage and fear that there's going to be a run on the banks there. david, chairman and chief investment officer of dumb beer land as visiers of -- cumberland, and why do you think it's a big deal, david? >> caller: well, the finance ministers, the decision has been announced. the cat is out of the bag. once you open the door to taxing a deposit when you have a liquidity crisis, you can never close the door aga
good performance of the german economy throughout the year. actually, we are forecasting a growth from around 2% quarter on quarter. and this is on the back of very strong labor markets. >> 2% growth in which quarter? >> basically on average. >> over the year. >> no. for the full year, i would have 11%. but quarter on quarter, up around 2%. why is that? very strong labor market, very strong export. i think more importantly, we should look at next month's bmis. the u.s. data came very strong. we should see a strong performance in germany on the back of the exports. >> you could make that argument on the pmi in germany and it was surprisingly weak. a deep contraction in the fourth quarter was going to rebound now called into question. >> i think this will be the growth. but you've seen in the labor market, you've seen hard data, actually, a strong performance of the economy. so we -- i think we should not expect a continuous increasing pmi, a continuous increase in ifo business index. i think the big question is the next one, in my opinion, just what they said, the u.s. bring very strong
't it? the economy is starting to improve. we're still seeing -- you know, you're talking two years out. i think the market's going to be at 17,000 in two years. i'm talking the opposite direction. i'm not a super, super bull. but in two years, i definitely think we're going to see, you know, lower unemployment. >> 3,300 down here. 17,000 up. >> that's a huge -- >> who's right? huh? >> i am. >> there you -- thank you, peter. >> thank you. >> see you later. heading toward the close. a day very much dictated by events overseas. the bailout of the cyprus banks seem to be a catalyst to the upside this morning. until the dutch finance minister had his say. but we are finishing well off the lows of the session. the dow was down 117 at the low of the day. and we're down about 50 right now. stay tuned. super bear harry dent is joining us on the second hour of "the closing bell." >>> welcome to "the closing bell," i'm sue herera in for maria bartiromo. bill will join me in a moment. not a great finish to the first trading day of the week. it started out so promising on news of a bailout agreemen
can be the linchpin in our economy over here. it's ridiculous. >> right. it should be a smaller problem. they could take care of this in other ways. they could print money or -- >> i'm not going to pick a state here. it would probably be a southern state, but a poor southern state cannot take the down the united states. >> a western state because they're not awake yet. but here we are. out of the 22 -- cyprus? >> you thought greece was small, cyprus is -- >> come on, cypriots? i remember some conflicts. i thought it was a golf course, which would be a much bigger problem to me. >> let's introduce our guest host this morning, kenny dichter, co-founder of avian. why do i always mispronounce it? because you've been b drinking it. >> avione is airplane in french and spanish. >> can we get a full shot of this? he's now the chairman of juicepress. i have been drinking this stuff for the past week, virtually, five days. >> and you know what? your skin tone has never looked better. >> no food up until this saturday. you've been doing this now -- >> 22 days. >> i've made my cleanse zero
economies. its involvement in asia will be a welcomed addition. the u.s. must work with india to reduce her domestic constraints to growth and inagrees foreign direct investment. reducing red tape, increasing the supply of electricity, improving the tax system, strengthening the ability to enforce contracts will all lift india's ranking and spur business growth in a way that has been missing thus far. largelyia's economy is based on global supply chains, it is absolutely critical for india to enact reforms and liberalize its economy, to tap into this regional market. this is how india anchors itself in the asia-pacific region and we should do what we can to help leverage those reforms inside india. that is why i believe the administration must redouble its efforts to secure a u.s.india bilateral investment treaty. current negotiations are proceeding far too slowly. there are important issues to resolve and it's going to take a concerted effort to make progress, but once the b.i.t. is firmly in place, the u.s. should work with india on a free trade agreement that will foster more trade. we s
and the economy, support for proxies'. if you had the opportunity to sit quietly with the supreme leader of iran and talk to him, talk him out of whatever he appears to be intending to do, what would you say to him about u.s. intentions at u.s. cooperation with our partners in the region? >> i would send dennis rodman over there. [laughter] the truth is the first thing i would do i would ask why they are doing what they're doing and i would like to hear it from him personally. because we know of course what his surrogates and proxy's are doing. i would like to know from him they close by the way, you know in that region that the three countries that have always been country, iran, turkey, egypt, they are the cornerstone of that region. it does not mean that we want to be like them or anyone want to be like them, but we have to account for the fact that those three countries are the historic cornerstones or and points of that region. the first thing i would like to is what is a they believe the future holds for the region and why are they apparently, it seems to me, on a path to try to dredge up
of the total economy were over 20%. in this republican fantasy land budgets are balanced with revenues at 19% of the economy, yet meeting the needs of 78 million more seniors and a infrastructure deficit that is growing as america is falling apart. clearly this is not remotely possible if we are going to enjoy anything like our current quality of life. there is a real world intersection of budget saving opportunities with potential areas of agreement. health care reform is one. but not just by shifting the burden to seniors and disabled as the republicans propose in their fantasy budget. my home state of oregon is the middle of an exciting demonstration of how to squeeze out the waste we all know is there and realign incentives. instead of the empty ritual of pretending to repeal obamacare, let's work together to accelerate reform for all americans. if the oregon experiment works, and frankly many of these efeshencies by the way are already achieved in other parts of the country and with some private health systems, we could save more than $1.2 trillion that is the flawed sequester is suppos
. cheryl: ideal economic environment, you're looking at the economy even though we had kind of a mixed picture today and then, again, corporate valuations. that's the bulls' side of this. john, i know you're bearish. you're calling for serious corrections on the s&p and dow. you're saying it's going to happen sooner rather than later. what are you seeing on the other side of the coin here? >> well, look, when things are euphoric, which they are, when alan greenspan comes out and says pie stocks along with the movie stars and, of course, our good friend, ned, then you should be looking to sell. and i'd also like to say this, i was on the show here last april 2012, we were pounding the table then, but right now you've got some real headwinds, and i'll give you a few of them. one, gdp is benign, .1%, you know, in fourth quarter of 2012. analyzed numbers are running around 2%, it just isn't keeping up. unfortunately, the treasury market is not confirming here. you know, if the ten-year was at 275, i'd say we'd probably leg up here, not happening. you know, and i think, thirdly, look at ear
see the economy take off mr. mr. norquist? >> guest: okay, we haven't had trillion dollars spending cuts that we had an agreement by the president of the united states forced on them by the republicans to reduce spending over the next decade by a trillion dollars, so 100 million a year. they haven't started yet and they're just beginning to kick in. this a quest or is an additional $1.2 trillion over the decades to what the republicans want in the state battle we had in 2011, the budget control act was obama needs the debt ceiling to be increased because we spent so much money and republican said okay, we will raise the debt ceiling so the country doesn't default but only if you agree to a dollar for dollar reduction in spending over the next decade. that $2.5 trillion in spending restraints, not real cuts, spending, less than obama had hoped but in washington that is called a cut. if you want 10 of something and you only got eight of something, you walked away with eight but so that was the $2.5 trillion spending reduction over the next decade. it hasn't happened yet. we have sever
, there will have to be budget cuts behind the sequester. the sequester will not be the end of it, but the economy is recovering. i wouldn't say in spite of what the govern am hment has done. the economy is recovering of its own natural forces now. we've had 12 years of subpar growth. we've had 12 years of up and down with little net progress in the markets and people have forgotten what a strong economy and what a bull market -- a secular bull market looks like, and i think that's generally where we're headed for the next four years, so i'm predicting, as you said, 25,000 on the dow which implies a 15% compound rate of return for the next four years. >> john, can i just come back on the important points that you're making about europe. i'm not sure it's a question of what america trades with whom. it's a question of where the companies that are quoted on this market make their profits and in technology, for example, 40% of those profits are made in europe and therefore europe arguably is more significant than you might think on the trade argument having said that. this is a very interesting week
the deficit and grow our economy. yield back. the speaker pro tempore: the chair lays before the house the following personal requests. the clerk: leave of absence requested for mr. thompson of california for today. the speaker pro tempore: without objection, the request s granted. under the speaker's announced policy of january 3, 2013, the gentleman from california, mr. bera, is recognized as 60 minutes as the designee of the minority leader. mr. bera: mr. speaker, thank you for that recognition. thank you for this time. mr. speaker, over the past several weeks, i've been talking to my constituents, i've been talking to former patients about the importance medicare and how medicare has impacted their lives, how they've relied on it. you know, as a doctor, i've taken care of thousands of patients, patients who've worked their whole life paying into a system so that they could rest easy at a time when they needed their health care. hey -- they needed their health care they wouldn't have to worry about it. this is a program that has served millions of americans for decades. they've come
, that reagan laid for the incredible ground work of the economy in the 1980's and 1990's. clinton helped to some extent, ut then he created and repealed glass-steagall, and everybody blames it on george bush. the conservatives who didn't do much for the letter peace, we tried to expand under karl rove, the voting process, and giving more to hispanic community, and we didn't get one increase in vote in that eight-year period so. what makes you think that we're going to give amnesty and all the set get a bunch of votes? it's fraud, and it's another really ploy by the democratic party to keep promising and benefits to everybody who will vote for them no matter what. scommoip we're going to talk about immigration in our next segment of the "washington journal" today. but we still have about five minutes left in this segment, if you want to call in to give us your take on this growth and opportunities report that was released today, or if you think hanges in the republican debates would have helped republicans in the 2012 election. a couple of other stories to point out, the front page of the
. let me turn to this second point. the war has affected the economy as well and left us with a legacy of higher oil prices and much higher national debt to. the iraq war costs set off a chain of events that had high reaching consequences. i was speaking about budgetary costs, but there are vast costs into civil society, here and in iraq, economic costs and financial costs, and some of those costs are borne by individual society or society at byge rather than directly the government. there were many of these costs i can talk about, but let me highlight a couple. if we think back to when we invaded iraq in 2003, oil prices to order $50 a barrel. and the markets including china and india predicted those would remain in that range for the next decade. oil prices are complicated, but most agree that iraq was one of the triggers of lead to oil prices shooting up shortly after the invasion. oil prices peaked do you since then we have rarely seen oil prices below the level of $100. if jo stieglitz were here, he would argue very strongly that we need to connect the dots, that oil prices contri
democracy. it will soon be one of the world's largest economies. its involvement in asia will be a welcomed addition. the u.s. must work with india to reduce her domestic constraints to growth and increase foreign direct investment, reducing red tape, increasing the supply of electricity, improving the tax system, strengthening the ability to enforce contracts will all live in the is ranking and spur business growth in a way that has been missing thus far. since asia's economy is largely based on global supply chains, it is absolutely critical for india to enact reforms, to liberalize its economy, to tap into this regional market. this is out in the anchors itself in the asia-pacific region, and we should do what we can to help leverage those reforms inside india. that is why i believe the administration must redouble its efforts to secure a u.s.-india bilateral investment treaty. current negotiations are proceeding far too slowly. there are important issues to resolve. it's going to take a concerted effort to make progress, but once the vat is firmly in place, the u.s. should work with ind
. how much of a threat is the happening in europe to the u.s. economy right now? >> also, two huge interviews still to come. meredith whitney tells us why she's very bullish on one of wall street's biggest banks and right now. and cit group chairman and ceo john thain reacts to the rumor that will not go away. namely that his company has been shopping for a suitor. john will try and lay those fears aside once again, those rumors. >> a look at where we stand as we approach this final stretch, final hour of the day. dow jones industrial down about 26 points. had been down 110. we are well off of the lows. nasdaq looks like this. also pretty volatile in the afternoon here. as you can see, it is down about five points at 3243. s&p 500 really similar move here. down five points. equities showing great resilience, pushing back from a triple digit loss today. will the crisis abroad keep the markets in jeopardy? >> you had to be named steve to be on the panel today for the most part. steven water from russell investments, steve sacks. steve liesman is with us. and then there's that guy san
be busy at home with economy. it was a clear reason and one of the many reasons why he chose her as suggested it because he knew she could do that for him on a daily basis in all, around the world. that's what i think that she would bring to him and accurate reading of where things stood. what she could deliver to him in terms of moving forward, where the players were when it comes to libya, for example. deliver to him what was needed for him to make the decision. she lost some battles but she certainly influenced a lot of decisions. libya being one of them. and asia definitely. >> host: we would get to libya next. it was a very interesting scenario in what happened there. but just one last question on the israeli-palestinian conflict. i was covering aipac 210100 clinton spoke at the conference. she mentioned at the time something that i thought was interesting. she said that far-flung destinations in the conflict where she would be traveling, that issued its took him up as the first, second or third issue. it struck me as unlikely, other than europe, that people would be focusin
on with the economy... fed ex shares hit a road block with investors-- falling-- more than 7 dollars yesterday.. after the company revealing profits fell 30% last quarter wtih weakness in asia. the company also pulled back on its full year forecast. shares of caterillar lost more than a dollar. the construction equipment company said sales of its machines are down 13%. homebuilder lennar attracted buyers as the stock rallied $2 as the company reported its well positioned for this year and next. monster energy is changing the way it markets its products. energy drinks will now be classified as a "beverage" -- instead of a "dietary supplement." under the switch: monster will no longer be required to inform regulators about reports linking its drink to injury or deaths. rockstar energy made a similar move. energy drinks are under intense scrutiny after a 14 year old girl died after drinking two cans in one day. as for the tobacco industry.. graphic images of diseased lungs will "not" appear on cigarette labels. the government has dropped its push for such warnings on packages and will go bac
up lima by going after cartels who control the transport system and regulating the economy of street vendors. they've been deeply unpopular among the war and have become fodder in a campaign to drive her out. >> the process underway is tainted with aggression, lies, distortion, misinformation, manipulation, and even worse, insult at my condition as a woman. it's injuring our citizens and causing negative visions. >> the recall vote is believed to be spearheaded by a former mayor looking for a comeback. he denies those allegations but controls the capital with significant influence as politicians jockey for power ahead of the elections. al jazeera. >> in southwestern colombia, soldiers conducted a raid in the jungle and seized nearly four tons of cocaine. they say they were hided and the confiscated cocaine had a street value of nearly 90 million dollars. 150,000 people have attended the first sunday prayers delivered by the new pope. before that, in an apparent break of precision and protocol, he met the faithful at ground level walking through the streets in st. annesa's church and
cable subscribers and others, based on what you see, is the u.s. economy growing at a faster clip than last year? what they did you get? >> the big shock for us, of be were oblivious to those kinds of questions in which many countries and housing stopped 2008 than subscriber losses were bigger. they said while. we never really appreciated for new homes in america the way we fight to over the same pie. greasy a little bit of hope but also post but the recipients between the cable business locally and nbc universal and cable channels nationally and locally. so now the advertising business is very relevant. and to greasy everyone feeling a the same thing. >> but with the, a sense of nervousness, we kid go down but like they said in tough times, take your risk. in good times it is easier for people to spend money. it was a tough decision to buy new and six in the middle of a recession but. >> now you are in control dealing with hollywood types what is more complicated? regulators in washington? [laughter] >> mass you can answer the question. [laughter] there is day but to be with the talen
the world and make america's case on a daily basis because he was going to be busy at home with the economy. so there was a very clear reason why he -- one of the many reasons why he chose her as secretary of state, because he knew she could do that for him on a daily basis in all around the world. and that's why i think that she would bring to him an accurate reading of where things stood, what she could deliver to him in terms of moving forward, in terms of agreement, in terms of where the players were when it comes to libya, for example. deliver to him, you know, what was needed for him to make the decision. she lost some battles, but she certainly influenced a lot of decisions. libya being one of them and asia, definitely. >> host: uh-huh, and we'll get to libya next, actually, i find that a -- it was a or very interesting scenario in what happened there. but just one last question on the israeli/palestinian conflict. i was covering aipac in 2010 when hillary clinton spoke at the conference, and she mentioned at the time something that i thought was interesting. she said that far-flung
. >> the muslim brotherhood needs us. i mean their economy is going to hell. they have got a real problems. they need imf financing. so we need to engage with them but we also need to stand on our principleses. >> rose: whatever happened to the idea expressed at this table that in an interesting way the responsibility of governing might make islamist parties change. they would face a new reality and that therefore theyould uderstand more than they did when they were outside of power, what it meant. and they would make different choices. >> the answer is that there is no universal-- there is no universal answer for this. because asian is lam with countrieses like indonesia and malaysia is one thing. turkey is another, hezbollah and lebanon, egypt, i agree is yet another so there is not one formula. islam is dirse and it will vary from one country to the other. in some countries, islam is in time will become a pragmatic. in other countries, it would be an ongoing revolution, radicallization. >> we have not been clear enough, john kerry has done this on his last trip but we need to be more cl
to listen to the message you have about the economy, about health care, about education. because they're so turned off by the rhetoric about illegal immigration. and that i think is what ari and the republican party is talking about now. >> so john berman has covered politics for a gazillion years. richard, you are my nonpolitico. are you moved? is there a sense of a relaunch? >> i'm the type of person that i'm to be persuaded, right some but to me, i know especially this 18 to 29 group, i just feel like it seems like marketing. and i hear the word brand and to me that makes it seem that it's not authentic. so i think social issues, but this idea of the package and -- it just seems like a branding and a marketing thing and i think a lot of young people are pretty wise to that sort of approach. >> so let's go right back then to jake. when you look at the cpac, right, and the straw poll that came out of that, you had rand paul winning with 25%, right behind was marco rubio, something like 23%. and you had contra ticker to me contradictory messages. again, polar opposites on the state of the r
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